The State government is ready to set apart sufficient funds for infrastructure projects, depending upon their requirements, by coordinating with other agencies, if the initial allocation of Rs. 1,000 crore is inadequate, Finance Minister O. Panneerselvam told the Assembly on Wednesday.
Referring to project proposals mentioned in the government's Vision 2023 document, Mr. Panneerselvam said investment to the tune of Rs. 4.5 lakh crore had been envisaged for the energy sector and the entire amount encompassed the share of not merely the State government but also those of the Central government and the private sector and through public-private partnership.
Apart from Rs. 1,000 crore for the Infrastructure Development Fund, an allocation of Rs. 5,251 crore was made in the budget for the highways department; Rs. 545 crore for purchasing 3,000 new buses; share capital support of Rs. 1,500 crore to the Tamil Nadu Generation and Distribution Corporation; Rs. 3,573 crore for improvement of distribution network; Rs. 750 crore for Mono Rail and Metro Rail works; Rs. 1,250 crore for two urban development projects; Rs. 750 crore for Tamil Nadu Village Habitation Improvement Scheme and Rs. 250 crore for comprehensive infrastructure improvement of Madurai city.
FSI norms relaxed
Also, norms for floor space index had been relaxed to enable affordable housing for the poor and middle class in urban areas. The Finance Minister asserted that the move to levy taxes for raising Rs. 1,500 crore additionally would not affect the common man.
Keywords: infrastructure projects